U společnosti Illumina se ve třetím čtvrtletí 2026 očekávají tržby ve výši 1,14 miliardy USD, což představuje meziroční růst o 5 %, a EPS ve výši 1,38 USD, meziročně o 3 % více.
Key Takeaways Illumina expects Q3 revenues of $1.14 billion and EPS of $1.38, reflecting year-over-year growth.ILMN may benefit from strong clinical demand, NovaSeq X placements and consumables growth.ILMN's new sequencing workflows, Billion Cell Atlas partnerships and proteomics offerings may drive growth.
Illumina, Inc. (ILMN - Free Report) is set to release third-quarter 2026 results on Oct. 29, after the closing bell.
The company posted adjusted earnings per share (EPS) of $1.31 in the last reported quarter, which surpassed the Zacks Consensus Estimate by 6.5%. Illumina beat earnings in each of the trailing four quarters, the average surprise being 9.67%.
ILMN’s Q3 EstimatesThe Zacks Consensus Estimate for the company’s third-quarter revenues is pegged at $1.14 billion, which suggests 5% growth from the year-ago reported figure.
The Zacks Consensus Estimate for earnings is pinned at $1.38 per share, which implies a 3% rise from the year-ago actuals. The estimate has remained constant in the past 60 days.
Here’s a brief overview of the company’s performance leading up to this announcement.
Factors Likely to Have Shaped ILMN’s Q3 PerformanceIllumina currently has one reportable segment, Core Illumina, following the separation of GRAIL into an independent, publicly traded company in June 2024. The company is likely to have extended its solid first-half 2026 momentum into the third quarter, driven by growing demand for its technologies.
In the second quarter, Rest-of-World organic revenues exceeded the high end of management’s previous guidance. Demand for the NovaSeq X platform also remained strong, with more than 95 systems placed during the quarter, more than three years after its launch. These drivers, along with disciplined expense management, may have helped Illumina deliver stronger profitability and bottom-line performance in the third quarter.
Continued demand from clinical markets may have remained a key growth driver. Clinical growth across Rest-of-World markets may have benefited from broad-based strength across regions and applications, particularly in the United States and Canada. Strong instrument placements in recent quarters are expanding customers’ sequencing capacity, which may have driven consumables growth in the to-be-reported quarter.
However, research and academic markets may have remained under pressure as customers continued to exercise caution amid funding uncertainty. Although some improvement was seen in the second quarter, management noted that it was too early to call a recovery.
The transition to NovaSeq X may have progressed further in the third quarter. By the end of the second quarter, approximately 83% of sequencing volumes and 59% of revenues had transitioned to the platform. Despite the ongoing shift, Illumina’s sequencing consumables business may have continued to perform well. Strong demand for NovaSeq X and MiSeq i100 is also expected to have supported Sequencing instruments revenues.
Within Sequencing service and other, the company is likely to have continued to gain traction in its Billion Cell Atlas program, resulting in higher data revenues from biopharma customers. In July, the Billion Cell Atlas alliance added three new member companies, including AI-native drug developer Formation Bio.
Illumina’s recent innovations may have supported revenue growth in the third quarter. The company launched a whole-genome MRD research workflow, a tool that runs on NovaSeq systems, designed to help customers shorten assay development timelines and lower development costs. Illumina broadened its capabilities in spatial biology with the StrataMap Spatial sequencing-based workflow. It is also seeing sustained proteomics momentum following the close of the SomaLogic acquisition. Illumina’s SomaScan and SomaSeq offerings are generating strong interest and helping customers connect proteomics and genomic insights.
What Our Quantitative Model Predicts for ILMNPer our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates, which is exactly the case here, as you can see below:
Earnings ESP: Illumina has an Earnings ESP of +9.16%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Top MedTech PicksHere are some other medical stocks worth considering, as these also have the right combination of elements to post an earnings beat this time:
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PAHC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 18.4%. The Zacks Consensus Estimate for the company’s first-quarter EPS indicates an increase of 8.2% from the year-ago quarter’s figure.
IDEXX Laboratories (IDXX - Free Report) has an Earnings ESP of +0.59% and a Zacks Rank #2. The company is slated to release third-quarter 2026 results on Nov. 2.
IDXX’s earnings beat estimates in each of the trailing four quarters, the average surprise being 5.7%. The Zacks Consensus Estimate for the company’s third-quarter EPS implies a jump of 9.1% from the year-ago quarter’s figure.
Becton, Dickinson and Company (BDX - Free Report) , or BD, has an Earnings ESP of +3.28% and a Zacks Rank #2. The company will release its fourth-quarter fiscal 2026 results on Nov. 5.
BD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 2.94%. The Zacks Consensus Estimate for the company’s fourth-quarter EPS calls for a rise of 2.5% from the year-ago quarter’s figure.
Illumina v rámci předběžného přístupu zpřístupnila tři nástroje platformy BioInsight využívající AI k automatizaci genomické analýzy a prioritizaci variant.
DRAGEN Ultra, BioInsight Platform Workflow Orchestrator, and BioInsight Platform Learning Cohorts are now available in early access, incorporating new AI-driven approaches to analysis, automation, and discovery
The tools automate end-to-end informatics processes at scale and help customers build private data lakes to drive scientific and clinical research insights
, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today introduced three early-access capabilities on its BioInsight Platform that help researchers move faster from sequencing data to discovery. BioInsight Platform Workflow Orchestrator enables laboratories to operate consistent, traceable sequencing and informatics operations at scale. DRAGEN Ultra extends genomic analysis beyond variant calling, using Illumina AI models and knowledge resources to prioritize candidate variants, and sort large numbers of research samples. BioInsight Platform Learning Cohorts, paired with the previously announced BioInsight Data, helps researchers investigate patterns across large genomic, multiomic, and phenotypic datasets, placing individual findings in their more informative biological and population context.
The new Workflow Orchestrator is designed to run each genomic analysis as a connected process, from sample tracking, through sequencer run planning, secondary analysis, quality control, and tertiary software for insight generation.
DRAGEN Ultra extends genomic analysis beyond variant calling by combining Illumina genomic AI models and proprietary knowledge resources to help prioritize variants for further investigation.
The Learning Cohorts tool will help researchers move beyond single sample evaluation and into dynamic knowledge generation in which every sample informs future discovery.
Together, the capabilities help research organizations operate consistent, efficient genomic workflows at scale, focus investigation on the samples and variants that matter, and place those findings in the context of larger genomic and multiomic populations.
"The promise of genomics depends on generating vast and complex data, then distilling that data into insights that advance discovery," said Rami Mehio, senior vice president and general manager of BioInsight at Illumina. "Researchers need consistent, scalable, reproducible workflows, AI that helps identify the samples and findings that matter most, and the ability to study those samples across increasingly large and diverse cohorts. We've put all our new development energy into new capabilities to make it easy to scale insight generation, so research organizations can focus on advancing the science rather than assembling and maintaining software."
The Illumina BioInsight Platform, which debuted last week, offers a suite of genomic and multiomics software tools and data sources. Researchers can choose the capabilities they need and link them together, designing workflows that best suit their science and adding capabilities as their programs grow.
BioInsight Platform Workflow Orchestrator enables connection to Illumina sequencers for automated, scaled genomics operations
As datasets grow and workflows become more complex, research organizations need consistent quality, reproducibility, and traceability at every stage of sequencing and analysis.
The new workflow orchestration software is designed to run each genomic analysis as a connected process, from sample tracking, through sequencer run planning, secondary analysis, quality control, and tertiary software for insight generation. A visual workflow builder allows customers to start from an Illumina authored template and configure specific parameters to reflect their individual lab innovations. Lab scientists define the workflow and the software executes it efficiently, consistently, and compliantly across tens of thousands of samples, enabling teams to scale operations without adding complexity.
In Workflow Orchestrator, each sample maintains a single identity across software tools, providing complete result lineage covering the inputs, software versions, settings, and quality metrics that produced them. This gives research organizations a reproducible, audit-ready operational foundation for genomic analysis.
For over a decade, DRAGEN has provided industry leading performance, accuracy, and capabilities in the field of genomic secondary analysis. The new DRAGEN Ultra capability extends genomic analysis beyond variant calling by combining Illumina genomic AI models and proprietary knowledge resources to help prioritize variants for further investigation, accelerating the path from variant identification to genomic insights. DRAGEN Ultra is available on the Illumina BioInsight Platform as well as customer premises, private clouds, and air-gapped environments.
Now in early access, the technology is designed to support a range of research applications, including rare disease, population genomics, and multiomic studies. By integrating annotation and prioritization with variant calls, DRAGEN Ultra provides more complete insights for large scale projects.
DRAGEN Ultra will include dnaAI, a new variant prioritization model that predicts which variants are most likely to explain an observed phenotype. Developed by the BioInsight AI Lab, the new model was featured in a plenary session at ASHG, where Illumina revealed early research findings from the model. Applying dnaAI to large scale datasets resulted in an 8% increase in disease associations across unsolved cases. The model also ranked previously established disease-associated variants among its top four candidates in 99.4% of genomes analyzed. In addition to the new dnaAI feature, DRAGEN Ultra also draws on Illumina models designed to address distinct classes of biological variation, including PrimateAI-3D, PromoterAI, and the newly announced SpliceAI2.
The Learning Cohorts tool, also in early access, will help researchers move beyond single sample evaluation and into dynamic knowledge generation in which every sample informs future discovery. Researchers can explore genomic, multiomic, and associated phenotypic data across large private sample collections, compare individual observations with broader populations, and investigate associations that may not be visible within any one sample. The Learning Cohorts tool makes capabilities available to private researchers that were traditionally only available with large public cohorts.
Researchers can begin with a scientific question, identify relevant populations from available datasets, and dynamically build cohorts for further analysis. For example, a researcher investigating a rare variant can identify subjects sharing similar genomic features or phenotypes, compare outcomes across groups, and explore associations that may warrant further study. This approach supports a shift from executing analyses on predetermined groups to discovering and investigating populations at scale.
Previously announced BioInsight Data adds curated reference datasets that researchers can use to enrich institutional cohorts and place findings in broader biological and population contexts. Together, the Learning Cohorts tool and BioInsight Data allow researchers to examine patterns across datasets, generate new hypotheses, and build research resources that become more informative as additional genomic, multiomic, and phenotypic data are added.
The three new applications are available for early access customers via the Illumina BioInsight Platform.
Illumina introduced the capabilities at the annual meeting of the American Society of Human Genetics (ASHG) in Montréal.
ASHG attendees can learn more about DRAGEN Ultra, BioInsight Workflow Orchestrator, and Learning Cohorts at Illumina booth #701 and during Illumina's Industry Education session on Friday, Oct 23, 12:15 PM–1:15 PM (ET) in Room 513 ABC. Learn more about the Illumina BioInsight Platform here.
About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Illumina uvedla platformu BioInsight, která sjednocuje analýzy, umělou inteligenci a biologická data pro genomický a multiomický výzkum; zahrnuje také DRAGEN v4.6.
The new platform brings together advanced analysis, purpose-built AI, and curated biological data so researchers can move more quickly from complex genomic and multiomic data to actionable insight
Included in the new platform, latest DRAGEN update expands access to Illumina's award-winning secondary analysis across supported cloud and standard computing environment
, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today debuted the Illumina BioInsight Platform, the company's first unified software environment designed to help researchers turn complex genomic and multiomic data into meaningful biological evidence. By bringing together Illumina's analysis applications, purpose-built AI innovations, and curated data resources in one environment, the platform delivers flexibility and accessibility, while reducing the need to assemble and manage separate informatics tools as research questions evolve.
Illumina today debuted the Illumina BioInsight Platform, the company’s first unified software environment.
BioInsight Data converts public and proprietary datasets into a harmonized, annotated, and reusable scientific catalog, alongside AI models designed specifically for genomics and multiomics applications. "BioInsight was built on an incredible history of data, software, and AI innovation that Illumina has delivered in the industry for more than a decade," said Rami Mehio, senior vice president and general manager of BioInsight at Illumina. "Now, BioInsight is accelerating our pace of innovation, and with the BioInsight Platform we are bringing customers one simple place to access the full breadth of our offerings across software, AI, and data. And the best part is, we are only getting started. Customers that use the BioInsight Platform will also have access to new capabilities in the future, empowering them to drive the next wave of biological insights for our industry."
Next-generation sequencing has transformed researchers' ability to generate genomic and multiomic data. However, the scale and complexity of those datasets have created a new challenge: turning data into insight efficiently. Illumina's BioInsight business unit was created one year ago to address that gap. AI has become an essential technology for quickly interpreting biological variation and prioritizing meaningful signals. The BioInsight Platform gives researchers access to Illumina's portfolio of genomic AI innovations, including the newly announced SpliceAI2 model for rare disease research.
With the launch of the BioInsight Platform, the business unit now brings together Illumina's data, AI, and software portfolio in an accessible single sign on. The BioInsight business also includes programs such as the Billion Cell Atlas, which connects proprietary data with leading biopharma partners to help advance the next generation of drug discovery and development.
Purpose-built AI helps researchers interpret biological variation at scale
The BioInsight AI Lab, the research arm of BioInsight, applies multiomic data and AI for variant effect prediction, variant effect prioritization, and training biological foundation models. Purpose-built for genomics, these AI models help researchers identify, prioritize, and interpret biologically relevant signals across increasingly complex datasets, enabling deeper exploration of disease biology and genetic variation.
DRAGEN v4.6 expands access to high-performance secondary analysis
Included with the BioInsight Platform is the newly released version of DRAGEN, DRAGEN v4.6, which expands where and how researchers can use the award-winning secondary analysis software. Data-residency requirements, infrastructure limitations, and operational needs can affect where and how genomic and multiomic analyses are performed. New deployment options, including DRAGEN software mode, allow organizations to run DRAGEN across supported cloud and standard CPU environments. DRAGEN v4.6 delivers consistent analysis across supported compute environments, giving organizations more flexibility to run DRAGEN in the environment that best fits their needs while maintaining confidence in their results.
Researchers are already leveraging DRAGEN software mode to support large-scale genomic discovery efforts. In collaboration with the Global Parkinson's Genetics Program (GP2), a resource program of Aligning Science Across Parkinson's (ASAP) in partnership with The Michael J. Fox Foundation for Parkinson's Research (MJFF), DRAGEN is supporting approximately 170 active research projects investigating the genetic basis of Parkinson's disease. Faster processing and the ability to run analyses efficiently and consistently on a public cloud environment is helping GP2 accelerate and share their large genomic cohort studies.
"GP2 is driving research all around the world to investigate genetic risk and broaden our understanding of Parkinson's disease," said Andrew Singleton from the Global Parkinson's Genetics Program. "Software advances are crucial to help our researchers make sense of genetic data in a consistent, comprehensive, and scalable analysis environment. The combination of speed and scalability allows us to focus more on scientific questions and less on operational bottlenecks."
Curated biological data helps researchers put findings in context
The BioInsight Platform features expertly curated datasets for research spanning oncology, rare disease, population health, and multiomics. BioInsight Data converts public and proprietary datasets into a harmonized, annotated, and reusable scientific catalog, alongside AI models designed specifically for genomics and multiomics applications. These continuously updated datasets enable researchers to contextualize findings across studies, generate new hypotheses, and accelerate biological discovery.
The BioInsight Platform brings together Illumina's growing portfolio of informatics applications, including DRAGEN, Emedgene, Connected Multiomics, BioInsight Platform Core, BaseSpace, and BioInsight Data. The usage-based BioInsight Credits model replaces traditional annual subscriptions, letting researchers adopt the capabilities most relevant to their work while maintaining flexibility to evaluate new technologies as scientific needs evolve.
BioInsight is Illumina's data, software, informatics, and AI business, helping researchers, healthcare organizations, and biopharma companies transform genomic and multiomic data into biological insights. BioInsight enables customers to accelerate discovery, identify and validate drug targets, deepen understanding of disease biology, and advance precision medicine. BioInsight's growing portfolio includes the groundbreaking BioInsight AI Lab as well as resources such as the Billion Cell Atlas, which helps biopharma partners connect genetic signals to cellular mechanisms and biological function.
Illumina will showcase the BioInsight Platform next week at the American Society for Human Genetics (ASHG) annual meeting in Montreal (booth #701). To learn more, researchers can sign up for a free trial of the BioInsight Platform here.
About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Illumina představila genomický model umělé inteligence SpliceAI2, který v datové sadě vzácných onemocnění odhalil o 17 % více relevantních variant než jiné modely pro predikci sestřihu.
In a rare disease research dataset, SpliceAI2 identified 17% more disease-relevant variants compared to other splicing models
Illumina's genomic AI models now collectively enable researchers to identify 2x as many variants with predicted biological impact
, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today introduced SpliceAI2, a new genomic AI model designed to address one of the central challenges in genomics: understanding the functional consequences of genetic variation. SpliceAI2 helps researchers identify disease-relevant splice variants that otherwise may go unnoticed. Predicting splice effects is key to resolving variants of uncertain significance in rare disease research, hereditary cancer testing research, and drug discovery. When applied to a rare disease research dataset, SpliceAI2 identified 17% more disease-relevant variants compared to other splicing models.
SpliceAI2 helps researchers identify disease-relevant splice variants that otherwise may go unnoticed. "Variant effect prediction tools, such as SpliceAI2, are among the key areas of focus for the BioInsight AI Lab," said Rami Mehio, senior vice president and general manager of BioInsight at Illumina. "As researchers work to elucidate the effect of mutations, we are uniquely positioned to unite genomic data and scientific expertise at scale, delivering the AI tools that can advance discovery and human health."
The BioInsight AI Lab focuses on three main areas of scientific impact: generating genomic and multiomic data to power AI tools; developing genomic AI models for variant effect prediction and prioritization; and training biological foundation models.
"Illumina is advancing AI to systematically shrink the portion of the genome that remains uninterpretable," said Kyle Farh, vice president of Illumina's BioInsight AI Lab. "Genomics has driven some of the most consequential genetic disease breakthroughs of the past two decades. Today, we are equipping researchers with the next generation of technology to help understand the underlying causes of disease."
SpliceAI2, PromoterAI, and PrimateAI-3D form a suite of genomic AI models designed to help researchers assess the functional impact of genetic variation across a broad spectrum of variant effect types, including splice, promoter, and missense variants. Together, these genomic AI models now collectively enable researchers to identify up to twice as many variants with predicted biological impact.
SpliceAI2 enables state-of-the-art variant interpretation across rare disease and population health research
Accurate interpretation of the functional consequences of genetic variation remains a central challenge for life science research. Splicing is the process by which RNA transcripts are assembled before protein production. Splice variants can disrupt transcripts, alter gene function, and interfere with protein function. Cryptic splice sites contribute to a significant burden of rare disease cases but are challenging to identify through traditional approaches. SpliceAI2 improves researchers' ability to identify and interpret these variants and provides accurate prediction of cell type-specific splicing.
A newly released preprint from Illumina's BioInsight AI Lab evaluated SpliceAI2's performance against the original SpliceAI and alternative splice prediction models. According to analyses of matched DNA and disease phenotype data from Genomics England cohorts, SpliceAI2 identified 17% more disease-relevant splice variants than other models. Analysis of matched whole genome and RNA sequencing data from the NIH's Genotype-Tissue Expression Portal showed that SpliceAI2 improved quantification of splice site usage by 34% compared to the next best model. SpliceAI2 results also aligned more closely with downstream protein effects seen in UK Biobank proteomic datasets and better captured the effects of splice variants across multiple population genomics datasets.
Researchers worldwide already use genomic AI from Illumina to drive deeper insights into their sequencing data. The first generation of SpliceAI has become the splice variant prediction tool of choice for researchers, cited in over 3,400 publications to date. It is incorporated into guidelines from ClinGen, a clinical research body that sets standards for clinical genomics, for splice variant interpretation. Trained on a dataset that is 100 times larger than the original SpliceAI, SpliceAI2 advances the model through significantly improved prediction of splice variants, enabling the detection of more disease-relevant variants while reducing the overall number of variants requiring review.
Customers on the frontline of rare disease and drug discovery research can easily access SpliceAI2 through Illumina's BioInsight applications, including DRAGEN Annotation for AI-powered and traditional variant annotation, and Emedgene for germline research.
BioInsight is Illumina's data, software, informatics, and AI business, helping researchers, healthcare organizations, and biopharma companies transform genomic and multiomic data into biological insights. BioInsight enables customers to accelerate discovery, identify and validate drug targets, deepen understanding of disease biology, and advance precision medicine. BioInsight's growing portfolio includes the groundbreaking BioInsight AI Lab as well as resources such as the Billion Cell Atlas, which helps biopharma partners connect genetic signals to cellular mechanisms and biological function.
Learn more about SpliceAI2 here
Read the full preprint here
About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Illumina dosáhla nového 52týdenního maxima, když akcie vystoupaly až na 278,99 USD. Firma zároveň oznámila čtvrtletní EPS 1,31 USD a tržby 1,16 miliardy USD, obojí nad odhady.
Illumina, Inc. (NASDAQ:ILMN – Get Free Report) shares hit a new 52-week high on Tuesday. The company traded as high as $278.99 and last traded at $273.1990, with a volume of 227282 shares trading hands. The stock had previously closed at $271.90.
Analyst Upgrades and Downgrades A number of analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Illumina from $170.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stifel Nicolaus lifted their target price on Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 31st. Guggenheim lifted their target price on Illumina from $200.00 to $226.00 and gave the company a “buy” rating in a report on Friday, July 31st. Evercore reissued an “outperform” rating on shares of Illumina in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price target on Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $209.75.
View Our Latest Stock Report on Illumina
Illumina Trading Up 0.6% The firm’s 50 day simple moving average is $216.42 and its 200-day simple moving average is $173.83. The company has a market capitalization of $41.33 billion, a PE ratio of 51.06, a P/E/G ratio of 3.85 and a beta of 1.46. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53. Illumina (NASDAQ:ILMN – Get Free Report) last issued its earnings results on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted $1.19 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, equities research analysts anticipate that Illumina, Inc. will post 5.36 EPS for the current year.
Insider Buying and Selling In other news, Director Keith Meister sold 457,858 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total value of $91,617,385.80. Following the completion of the sale, the director owned 2,372,694 shares of the company’s stock, valued at $474,776,069.40. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,061,850 shares of company stock valued at $436,479,102 over the last 90 days. Company insiders own 2.90% of the company’s stock.
Institutional Investors Weigh In On Illumina Several hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. raised its stake in shares of Illumina by 8.1% during the second quarter. QRG Capital Management Inc. now owns 7,261 shares of the life sciences company’s stock valued at $1,277,000 after purchasing an additional 546 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Illumina by 18.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,935 shares of the life sciences company’s stock worth $1,219,000 after purchasing an additional 1,090 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Illumina by 10.3% in the second quarter. Tidal Investments LLC now owns 93,728 shares of the life sciences company’s stock valued at $16,480,000 after purchasing an additional 8,726 shares during the period. MCF Advisors LLC boosted its stake in shares of Illumina by 172.4% in the second quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 100 shares during the period. Finally, National Pension Service boosted its stake in shares of Illumina by 246.7% in the second quarter. National Pension Service now owns 369,856 shares of the life sciences company’s stock valued at $65,032,000 after purchasing an additional 263,172 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
About Illumina (Get Free Report)
Illumina, Inc develops and manufactures technologies used to analyze genetic variation and biological function. Its products are primarily based on next-generation sequencing, a method that enables researchers and clinicians to read DNA and RNA for applications including genomic research, disease studies, drug development and clinical testing.
The company offers sequencing instruments, consumables such as reagent kits and flow cells, and related software and informatics solutions. Illumina also provides services and support designed to help customers prepare samples, run sequencing workflows, interpret genomic data and integrate results into research or clinical operations.
Founded in 1998 and headquartered in San Diego, California, Illumina serves customers worldwide, including academic and government research institutions, pharmaceutical and biotechnology companies, hospitals, clinical laboratories and other healthcare organizations.
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Illumina zvýšila celoroční výhled tržeb na 4,60–4,64 miliardy USD a upraveného EPS na 5,30–5,40 USD po růstu tržeb ve 2. čtvrtletí o 9,5 % na 1,16 miliardy USD.
Key Takeaways Illumina's core sequencing, multiomics and software businesses are supporting its stronger 2026 outlook.Illumina's clinical consumables grew roughly 17% in the first half of 2026, led by oncology.Illumina raised 2026 revenue guidance to $4.60-$4.64 billion and adjusted EPS to $5.30-$5.40. Illumina (ILMN - Free Report) shares have shown impressive momentum so far this year, surging 94.9%. The stock has outpaced the industry’s 8.6% gain and the S&P 500 Composite’s 13.1% rise.
Carrying a Zacks Rank #3 (Hold) at present, the renowned genomics company is making solid progress across its core sequencing, multiomics, and services, data and software businesses, supporting a stronger 2026 outlook. The company’s clinical business is gaining momentum as sequencing adoption expands across key applications. Illumina’s strong liquidity and manageable debt position support continued investment.
San Diego, CA-based Illumina provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies. In January 2026, Illumina acquired SomaLogic, a proteomics company that provides high-throughput protein measurement technology and related data analysis services.
Factors Supporting ILMN’s Price RallyThe rally in the company’s share price can be linked to strong progress across three pillars — growth in its core sequencing business, expansion into multiomics, and broader services, data and software capabilities. Following the June 2024 GRAIL spin-off, Illumina remains focused on these areas as it works to drive sustainable growth. Second-quarter 2026 revenues rose 9.5% year over year to $1.16 billion, supported by continued demand across the business.
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Excluding China, currency and acquisition effects, Rest of World organic revenues increased 8.1%, reflecting broad-based growth, led by clinical markets. Management raised full-year 2026 revenue guidance to $4.60-$4.64 billion and adjusted earnings per share (EPS) guidance to $5.30-$5.40 while maintaining adjusted operating margin guidance of 23.4%-23.6%.
Illumina continues to benefit from wider adoption of NGS-based diagnostics and sequencing-intensive clinical applications. Clinical markets accounted for approximately 65% of sequencing consumables revenues in the second quarter of 2026. For the first half of 2026, clinical consumables growth was roughly 17%, representing a modest acceleration from the second half of 2025. As customers add capacity for applications such as oncology and whole-genome sequencing, this higher sequencing intensity should support consumables demand beyond the current instrument placement cycle.
NovaSeq X remains the main platform supporting Illumina’s high-throughput sequencing growth. The company placed more than 95 NovaSeq X systems in the second quarter of 2026, reflecting continued capacity expansion by clinical customers. Nearly 83% of high-throughput volumes and 59% of revenues had transitioned to NovaSeq X, while 78% of clinical volume was on the platform.
Illumina’s balance sheet remained in good shape at the end of the second quarter, with approximately $1.17 billion in cash, cash equivalents and short-term investments. Current debt was $500 million, while long-term debt remained at $1.49 billion, putting gross debt at roughly 1.6 times last-12-month EBITDA. The combination of strong liquidity and moderate leverage gives Illumina flexibility to invest in its business while managing its financial obligations.
What Ails ILMN?lllumina continues to operate in a higher-cost environment shaped by tariffs, freight and component inflation. China remains a key demand headwind for the company, with regulatory uncertainty continuing to weigh on the business. Until the restrictions ease, lower activity in the region can limit instrument placements, installed-base expansion and subsequent consumables pull-through, reducing Illumina’s ability to capture growth from that market.
A Glance at ILMN’s EstimatesThe Zacks Consensus Estimate for ILMN’s 2026 and 2027 EPS calls for increases of 10.7% and 13.8% year over year, respectively, to $5.36 and $6.10. In the past 60 days, the consensus estimate for the 2026 EPS has risen 0.4%.
Revenues for 2026 are projected to grow 6.3% to $4.62 billion and another 6.7% to $4.93 billion in 2027.
Key PicksSome better-ranked stocks in the broader medical space are Veracyte (VCYT - Free Report) , Globus Medical (GMED - Free Report) and Teleflex (TFX - Free Report) .
Veracyte has an earnings yield of 4.7% against the industry’s negative 1.4% yield. Shares of the company have risen 33.6% compared with the industry’s 4.7% growth. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%.
VCYT sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Globus Medical, sporting a Zacks Rank #1, has an earnings yield of 6.7% against the industry’s negative 1.4% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED shares have rallied 34.3% compared with the industry’s 4.7% growth over the past year.
Teleflex, carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 20.7% compared with the industry’s 14.5% growth. Its earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.2%. TFX shares have gained 4.1% compared with the industry’s 4.7% growth over the past year.
Key Takeaways Illumina raised 2026 revenue and EPS guidance as second-quarter revenues climbed 9.5% year over year. Oncology led clinical growth, while StrataMap Spatial and SomaLogic offerings broadened customer use cases. ILMN faces margin pressure from tariffs, freight and memory costs despite maintaining manageable leverage. Illumina Inc. (ILMN - Free Report) is well positioned for growth in the coming quarters, driven by strategic execution focused on growing its core sequencing business, expanding multiomics and developing services, data and software capabilities. Ongoing momentum in oncology is boosting clinical growth. Additionally, a strong solvency looks encouraging. However, input-cost volatility may constrain incremental margin expansion over the next several quarters.
Over the past year, this Zacks Rank #2 (Buy) stock has surged 129.6%, well ahead of the industry’s 24.6% growth and the S&P 500 composite’s rise of 20.1.%.
The renowned biotechnology company has a market capitalization of $27.82 billion. ILMN’s earnings yield of 2.4% is well ahead of the industry’s -14.9% yield. The company beat on earnings in each of the trailing four quarters, delivering an average surprise of 9.7%.
Let’s delve deeper.
Tailwinds Supporting ILMN StockSharpened Focus on Core Genomics: Following the June 2024 GRAIL spin-off, Illumina remains centered on its core sequencing franchise while extending into multiomics, data and software. The second-quarter 2026 results offered further evidence that the strategy is beginning to gain traction. Revenues rose 9.5% year over year to $1.16 billion, supported by continued demand across the business.
Management raised full-year 2026 revenue guidance to $4.60-$4.64 billion and adjusted earnings per share (EPS) guidance to $5.30-$5.40 while maintaining adjusted operating margin projection of 23.4-23.6%. The company continues to target high-single-digit revenue growth in 2027, supported by its core sequencing business, multiomics and data offerings. Together, these developments keep Illumina on track with its longer-term growth and profitability framework and support continued progress toward its stated targets.
Oncology Portfolio and Workflow Expansion Support Adoption: Illumina is broadening the workflows that can run within its sequencing ecosystem as clinical customers adopt larger, more data-intensive assays. In the second quarter of 2026, oncology continued to lead clinical growth, with therapy selection remaining the largest contributor and molecular residual disease (MRD) beginning to gain momentum.
The company also launched a whole-genome MRD research workflow for NovaSeq systems in early access, designed to shorten assay-development timelines and lower development costs. Beyond sequencing, the company launched StrataMap Spatial and continued to expand SomaScan and SomaSeq after the SomaLogic acquisition.
Image Source: Zacks Investment Research
BioInsight has begun generating revenues through the Billion Cell Atlas, which has delivered more than 300 million cells and added three partners after quarter-end, bringing the total to six biopharma partners. These offerings broaden customer use cases and support Illumina’s longer-term multiomics and data strategy.
Favorable Solvency: Illumina ended the second quarter of 2026 with combined cash, cash equivalents and short-term investments of $1.04 billion compared with $1.09 billion at the end of the first quarter.
Current debt was $500 million, broadly unchanged sequentially, while long-term debt remained at $1.49 billion. Gross debt was approximately 1.6 times last-12-month EBITDA, reflecting manageable leverage. The company’s liquidity remains sufficient to support operations, strategic investments and capital returns.
What Ails ILMN Stock?Macroeconomic Cost Risks Remain: Illumina continues to operate in a higher-cost environment shaped by tariffs, freight and component inflation. In the second quarter of 2026, adjusted gross margin was 68.2%, down 120 bps year over year, as a heavier instrument mix, higher freight and memory costs, and lower-margin SomaLogic revenues offset operating initiatives and lower tariff costs. Adjusted operating margin was 22.5%, down 130 bps year over year. Tariffs, shipping costs and memory costs are expected to continue affecting results, leaving margins sensitive to product mix and external cost volatility.
ILMN Stock Estimate TrendThe Zacks Consensus Estimate for ILMN’s 2026 EPS has increased 2.3% to $5.34 in the past 30 days.
The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $4.62 billion, calling for a 6.4% rise from the year-ago reported number.
Other Key PicksSome other top-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Veracyte (VCYT - Free Report) and Teleflex (TFX - Free Report) .
Globus Medical has an earnings yield of 5.8% against the industry’s negative 1.7% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED’s shares have rallied 42.3% against the industry’s 6.3% decline over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Veracyte, sporting a Zacks Rank #1 at present, has an earnings yield of 4.6% against the industry’s negative 1.7% yield. Shares of the company have risen 38% against the industry’s 6.3% decline. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%.
Teleflex, carrying a Zacks Rank #2 at present, has an estimated long-term earnings growth rate of 20.7% compared with the industry’s 12.8% growth. Its earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 3.2%. TFX’s shares have rallied 5% against the industry’s 6.2% decline over the past year.
, /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) ("Illumina" or the "company") today announced its financial results for the second quarter of fiscal year 2026.
Second quarter 2026 results
Revenue of $1.16 billion for Q2 2026, up 9.5% from Q2 2025 and up 8.1% excluding the impacts of currency, acquisitions, and China ("ROW1 organic revenue growth") GAAP operating margin of 21.1% and non-GAAP operating margin of 22.5% GAAP diluted EPS of $1.35 and non-GAAP diluted EPS of $1.31 "Illumina delivered strong results during the second quarter. Momentum continued to build through the first half of 2026, as our technology is enabling clinical customers to expand sequencing-intensive applications. Based on this performance, we are increasing our revenue and earnings guidance for the year," said Jacob Thaysen, Chief Executive Officer of Illumina. "Demand for NovaSeq X remains high as we expand our workflow and multiomics capabilities, broadening the value of Illumina's ecosystem."
Fiscal year 2026 guidance
For fiscal year 2026, we now expect:
Total revenue of $4.60-$4.64 billion, versus prior guidance of $4.52-$4.62 billion ROW organic revenue growth greater than 5%, versus prior guidance of 2%-4% Non-GAAP operating margin of 23.4%-23.6%, unchanged from prior guidance Non-GAAP diluted EPS of $5.30-$5.40, versus prior guidance of $5.15-$5.30 Second quarter results
GAAP
Non-GAAP (a)
Dollars in millions, except per share amounts
Q2 2026
Q2 2025
Q2 2026
Q2 2025
Revenue
$ 1,159
$ 1,059
$ 1,159
$ 1,059
Gross margin
66.4 %
65.6 %
68.2 %
69.4 %
Operating profit
$ 245
$ 214
$ 260
$ 252
Operating margin
21.1 %
20.2 %
22.5 %
23.8 %
Diluted EPS
$ 1.35
$ 1.49
$ 1.31
$ 1.19
(a)
See tables in "Results of Operations - Non-GAAP" section below for GAAP and non-GAAP reconciliations.
Capital expenditures for free cash flow purposes were $39 million for Q2 2026. Cash flow provided by operations was $201 million, compared to $234 million in the prior year period. Free cash flow (cash flow provided by operations less capital expenditures) was $162 million for the quarter, compared to $204 million in the prior year period. Depreciation and amortization expense was $70 million for Q2 2026. At the close of the quarter, the company held $1.17 billion in cash, cash equivalents and short-term investments.
____________________
1
ROW = rest-of-world, excluding Greater China region due to our inclusion on China's Unreliable Entities List
Conference call information
The conference call will begin at 1:30 pm Pacific Time (4:30 pm Eastern Time) on Thursday, July 30, 2026. Interested parties may access the live webcast via the Investor Info section of Illumina's website or directly through the following link - https://illumina-earnings-call-q2-2026.open-exchange.net/. To ensure timely connection, please join at least ten minutes before the scheduled start of the call. A replay of the conference call will be posted on Illumina's website after the event and will be available for at least 30 days following.
Statement regarding use of non-GAAP financial measures
The company reports non-GAAP results for diluted earnings per share, gross margin, operating margin, and free cash flow, among others, in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company's financial measures under GAAP include substantial charges such as amortization of acquired intangible assets, among others, that are listed in the reconciliations of GAAP and non-GAAP financial measures included in this press release. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP operating margin and diluted earnings per share are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in this release.
The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related costs, fair value adjustments to contingent consideration, gains and losses from strategic investments, asset impairments, restructuring activities, and the ultimate outcome of pending litigation, among others, without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.
Use of forward-looking statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve, including the proteomics market; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) our ability to successfully integrate SomaLogic, Inc. and certain other assets we acquired from Standard BioTools Inc. (the SomaLogic Business) into our existing operations and the SomaLogic Business' technology and products into our portfolio; (v) our ability to successfully manage partner and customer relationships in the proteomics market; (vi) uncertainty regarding the impact of our inclusion on the "unreliable entities list" by regulatory authorities in China; (vii) uncertainty regarding tariffs imposed or threatened by the U.S. government and its trading partners, related court proceedings or administrative actions (including potential refund or relief programs), and other possible tariffs or trade protection measures and our efforts to mitigate the impact of such tariffs; (viii) our ability to manufacture robust instrumentation and consumables, including the SomaLogic Business' products; (ix) the success of products and services competitive with our own; (x) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (xi) the impact of recently launched or pre-announced products and services on existing products and services; (xii) our ability to modify our business strategies to accomplish our desired operational goals; (xiii) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xiv) our ability to further develop and commercialize our instruments, consumables, and products; (xv) our ability to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xvi) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xvii) our ability to obtain approval by third-party payors to reimburse patients for our products; (xviii) our ability to obtain regulatory clearance for our products from government agencies; (xix) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xx) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xxi) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; and (xxii) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.
About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Illumina, Inc.
Condensed Consolidated Balance Sheets
(In millions)
June 28,
2026
December 28,
2025
ASSETS
(unaudited)
Current assets:
Cash and cash equivalents
$ 1,040
$ 1,418
Short-term investments
128
215
Accounts receivable, net
764
854
Inventory, net
629
564
Prepaid expenses and other current assets
273
238
Total current assets
2,834
3,289
Property and equipment, net
745
759
Operating lease right-of-use assets
362
370
Goodwill
1,284
1,113
Intangible assets, net
410
210
Deferred tax assets, net
439
454
Other assets
576
449
Total assets
$ 6,650
$ 6,644
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$ 230
$ 240
Accrued liabilities
848
846
Term debt, current portion
500
499
Total current liabilities
1,578
1,585
Operating lease liabilities
454
486
Term debt
1,491
1,490
Other long-term liabilities
289
360
Stockholders' equity
2,838
2,723
Total liabilities and stockholders' equity
$ 6,650
$ 6,644
Illumina, Inc.
Condensed Consolidated Statements of Operations
(In millions, except per share amounts)
(unaudited)
Three Months Ended
Six Months Ended
June 28,
2026
June 29,
2025
June 28,
2026
June 29,
2025
Revenue:
Product revenue
$ 982
$ 912
$ 1,899
$ 1,793
Service and other revenue
177
147
352
307
Total revenue
1,159
1,059
2,251
2,100
Cost of revenue:
Cost of product revenue
291
276
565
529
Cost of service and other revenue
80
71
160
160
Amortization of acquired intangible assets
18
17
35
33
Total cost of revenue
389
364
760
722
Gross profit
770
695
1,491
1,378
Operating expense:
Research and development
252
247
492
499
Selling, general and administrative
273
234
545
501
Total operating expense
525
481
1,037
1,000
Income from operations
245
214
454
378
Other income (expense), net
15
92
(37)
110
Income before income taxes
260
306
417
488
Provision for income taxes
53
71
77
122
Net income
$ 207
$ 235
$ 340
$ 366
Earnings per share:
Basic
$ 1.37
$ 1.49
$ 2.24
$ 2.32
Diluted
$ 1.35
$ 1.49
$ 2.22
$ 2.31
Shares used in computing earnings per share:
Basic
151
157
152
158
Diluted
153
157
154
158
Illumina, Inc.
Condensed Statements of Cash Flows
(In millions)
(unaudited)
Three Months Ended
Six Months Ended
June 28,
2026
June 29,
2025
June 28,
2026
June 29,
2025
Net cash provided by operating activities
$ 201
$ 234
$ 490
$ 474
Net cash used in investing activities
(121)
(49)
(488)
(112)
Net cash used in financing activities
(129)
(371)
(380)
(566)
Effect of exchange rate changes on cash and cash equivalents
—
7
—
11
Net decrease in cash and cash equivalents
(49)
(179)
(378)
(193)
Cash and cash equivalents, beginning of period
1,089
1,113
1,418
1,127
Cash and cash equivalents, end of period
$ 1,040
$ 934
$ 1,040
$ 934
Calculation of free cash flow:
Net cash provided by operating activities
$ 201
$ 234
$ 490
$ 474
Purchases of property and equipment
(39)
(30)
(78)
(62)
Free cash flow (a)
$ 162
$ 204
$ 412
$ 412
(a)
Free cash flow, which is a non-GAAP financial measure, is calculated as net cash provided by operating activities reduced by purchases of property and equipment. Free cash flow is useful to management as it is one of the metrics used to evaluate our performance and to compare us with other companies in our industry. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.
Illumina, Inc.
Results of Operations - Non-GAAP
(unaudited)
TABLE 1: RECONCILIATION OF REVENUE GROWTH:
Three Months
Ended
Six Months
Ended
June 28,
2026
June 28,
2026
Revenue growth
9.5 %
7.2 %
Impact of acquisitions
(2.1) %
(1.9) %
Impact of currency exchange rates
(0.9) %
(1.4) %
Organic revenue growth (non-GAAP) (a)
6.5 %
3.9 %
Impact of China
1.6 %
1.9 %
ROW organic revenue growth (non-GAAP) (a)
8.1 %
5.8 %
TABLE 2: RECONCILIATION OF GAAP AND NON-GAAP DILUTED EARNINGS PER SHARE:
Three Months Ended
Six Months Ended
June 28,
2026
June 29,
2025
June 28,
2026
June 29,
2025
GAAP diluted earnings per share
$ 1.35
$ 1.49
$ 2.22
$ 2.31
Acquisition-related costs (d)
0.07
0.03
0.23
0.11
Transformational initiatives (e)
0.03
0.06
0.06
0.26
Strategic investment (gain) loss, net (f)
(0.15)
(0.65)
0.08
(0.85)
Intangible impairment
—
0.15
—
0.15
Other (g)
—
—
—
0.03
Provision for income taxes (h)
0.01
0.11
(0.13)
0.15
Non-GAAP diluted earnings per share (b)
$ 1.31
$ 1.19
$ 2.46
$ 2.16
TABLE 3: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE:
Three Months Ended
Six Months Ended
(Dollars in millions)
June 28, 2026
June 29, 2025
June 28, 2026
June 29, 2025
GAAP gross profit (c)
$ 770
66.4 %
$ 695
65.6 %
$ 1,491
66.2 %
$ 1,378
65.6 %
Acquisition-related costs (d)
20
1.8 %
16
1.5 %
43
2.0 %
33
1.6 %
Transformational initiatives (e)
—
— %
1
0.1 %
—
— %
3
0.1 %
Intangible impairment
—
— %
23
2.2 %
—
— %
23
1.1 %
Non-GAAP gross profit (b)
$ 790
68.2 %
$ 735
69.4 %
$ 1,534
68.2 %
$ 1,437
68.4 %
GAAP operating profit
$ 245
21.1 %
$ 214
20.2 %
$ 454
20.2 %
$ 378
18.0 %
Acquisition-related costs (d)
11
1.0 %
5
0.5 %
35
1.6 %
17
0.8 %
Transformational initiatives (e)
4
0.4 %
10
0.9 %
10
0.4 %
41
2.0 %
Intangible impairment
—
— %
23
2.2 %
—
— %
23
1.1 %
Other (g)
—
— %
—
— %
—
— %
5
0.2 %
Non-GAAP operating profit (b)
$ 260
22.5 %
$ 252
23.8 %
$ 499
22.2 %
$ 464
22.1 %
(a)
Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges; Rest of World (ROW) organic revenue growth also adjusts for the impact from our China region.
(b)
Non-GAAP gross profit, included within non-GAAP operating profit, is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP diluted earnings per share and non-GAAP operating profit exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin and diluted earnings per share are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance.
(c)
Reconciling amounts are recorded in cost of revenue.
•
Amounts for Q2 2026 and YTD 2026 consist primarily of:
•
Amortization of intangible assets of $18 million and $35 million (cost of revenue)
•
Amortization of inventory fair value step-up for SomaLogic of $2 million and $8 million (cost of revenue)
•
Expenses for the SomaLogic and GRAIL acquisitions of $7 million and $22 million (operating expense)
•
Net gains on contingent consideration liabilities of ($16) million and ($32) million (operating expense)
Amounts for Q2 2025 and YTD 2025 consist primarily of:
•
Amortization of intangible assets of $16 million and $33 million (cost of revenue)
•
Expenses for the SomaLogic and GRAIL acquisitions of $9 million and $15 million (operating expense)
•
Net gains on contingent consideration liabilities of ($21) million and ($32) million (operating expense)
(e)
Amounts for Q2 2026 and YTD 2026 consist primarily of implementation costs to upgrade our ERP system. Amounts for Q2 2025 and YTD 2025 consist primarily of employee severance costs from restructuring activities.
(f)
Amounts consist of realized and unrealized gains and losses and impairments on our investments.
(g)
Amount consists of $3 million for costs related to board membership changes and $2 million for legal accrual.
(h)
Amounts represent the aggregate of the difference between book and tax accounting related to stock-based compensation cost and the tax impact related to non-GAAP adjustments.
Illumina rozšířila Alianci Billion Cell Atlas o tři nové společnosti včetně Formation Bio. Program už zahrnuje přes 350 milionů sekvenovaných buněk a má urychlit vývoj přesnějších léků.
Partners will use unprecedented data scale to advance more precise medicines to approval
, /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced that the Billion Cell Atlas alliance has added three new member companies, including AI-native drug developer Formation Bio. As leaders in AI-driven drug discovery, design, and development, alliance members will use the unprecedented scale of Illumina's genome-wide perturbation data as infrastructure for the next generation of therapeutics.
Partners will use unprecedented data scale to advance more precise medicines to approval. "We are building the cell atlas to address key bottlenecks across the drug discovery and development continuum," said Rami Mehio, senior vice president and general manager of BioInsight at Illumina. "We are creating the foundational framework to train virtual cell models and solve some of the most fundamental challenges in biology. Together, partners using this unique dataset can have a significant impact in de-risking and accelerating the journey from biological insights to approved drugs."
Introduced in January 2026 with founding participants AstraZeneca, Merck, and Eli Lilly and Company, the Atlas enables users to discover and validate novel targets, characterize drug and disease mechanisms of action, and explore potential new indications. Over 350 million cells have been sequenced to date, generating upwards of six petabytes of genomic data. The scale and diversity of the Atlas across hundreds of disease-relevant and healthy cell types can reveal how diseases originate and develop, as well as how we may be able to reverse their progression.
"Formation Bio's model is to identify and acquire promising medicines already close to or in the clinic, then use AI and technology to develop them faster and more efficiently. A core part of that model is making better asset-selection and indication decisions, especially for first-in-class programs where the evidence is often fragmented," said Benjamine Liu, CEO and co-founder of Formation Bio. "We are excited to leverage the Illumina Billion Cell Atlas to credential therapeutic-area hypotheses and target-indication pairs against a new layer of cell-specific causal biology. Combined with genetics, human biology, translational evidence, and clinical data, these insights can help us choose the right assets, indications, patients, and trial designs—and ultimately increase the probability that important new medicines reach patients."
Transforming drug discovery and development requires biological understanding at scale
For Formation Bio, the Atlas can provide insight into why a drug might work or fail in a specific patient population. Single-cell perturbation data at scale will enable researchers to build more precise models of how candidate drugs interact with disease biology, improving their ability to identify which patient subgroups are most likely to respond and inform clinical trial design. The Atlas will also strengthen one of the most consequential decisions in drug development: choosing which assets to advance and in which indications.
This is particularly important for first-in-class medicines, where the target biology may be compelling but clinical precedent is limited. By integrating cell-state-specific perturbation data with genetic, human, translational, and clinical evidence, Formation Bio can more rigorously credential target-indication pairs, identify the disease contexts and patient populations most likely to respond, and prioritize programs with the strongest probability of clinical success.
"The next frontier of AI in biology hinges on the creation of foundational training datasets," said Kyle Farh, vice president of Artificial Intelligence at Illumina. "Up until now, most single cell data has been observational. We aim to change that, and in the process, reimagine what is possible in biology."
About the Illumina Billion Cell Atlas
The Illumina Billion Cell Atlas — the world's largest genome-wide genetic perturbation dataset — is capturing how one billion individual cells respond to genetic changes via CRISPR across more than 200 disease-relevant cell lines. The program launched in January 2026, and members include AstraZeneca, Eli Lilly and Company, Formation Bio, Merck, and two additional AI-driven drug discovery partners. It will be the most comprehensive map of human disease biology upon completion. To learn more about the Illumina Billion Cell Atlas and other multiomics initiatives, visit this link.
About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.
Key Takeaways Illumina's 2026 stock rally reflects strong execution and first-quarter results above guidance.ILMN saw 20% clinical sequencing consumables demand growth outside China for a second straight quarter.Illumina's NovaSeq X placements topped 80 units as adoption and platform transition continued. Illumina (ILMN - Free Report) has delivered an impressive performance in 2026, with its shares rising 43.7% year to date. The stock has significantly outpaced the industry’s 7.5% gain and the S&P 500 composite’s 10% rise.
Carrying a Zacks Rank #2 (Buy) at present, the renowned genomics company continues to execute on its strategy to drive durable growth and higher profitability. Growing sequencing intensity across the clinical end-markets continues to support Illumina’s growth. Balance sheet strength remains another key positive for the company.
San Diego, CA.-based Illumina Inc. provides sequencing and array-based solutions for genetic and genomic analysis. The products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. Its customers include leading genomic research centers, academic institutions, government laboratories, hospitals, as well as pharmaceutical, biotechnology, commercial molecular diagnostic and consumer genomics companies. The company’s sequencing technology, sequencing by synthesis (SBS), is widely adopted worldwide and supports both single-read and paired-end libraries.
Key Drivers Behind ILMN's Price RallySince spinning off GRAIL in June 2024, Illumina has continued to center its strategy on the core sequencing franchise while scaling into adjacent multiomics and data offerings. The company is targeting a return to durable growth and higher profitability, with goals of high-single-digit revenue growth by 2027 and annual earnings per share (EPS) growth in the double-digits to teens. The strategy appears to be gaining traction, with first-quarter 2026 revenues, margins and non-GAAP EPS all exceeding management’s guidance.
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Broader adoption of NGS-based testing remains a key growth driver for Illumina. Clinical end-markets generated the majority of sequencing consumables revenues in first-quarter 2026, supported by the continued adoption of sequencing-based diagnostics and the growing use of sequencing-intensive tests, including comprehensive genomic profiling and whole genome sequencing, as drivers of higher sequencing intensity. Excluding China, clinical sequencing consumables demand increased 20% for the second straight quarter.
NovaSeq X placements in the quarter exceeded 80 units, around 20 more than a year ago and above the company’s targeted quarterly range. Transition progress also continued, with approximately 82% of volumes and 55% of revenues migrated to the platform, while roughly 90% of research and applied volume now runs on NovaSeq X. Management continues to plan for average quarterly NovaSeq X placements of 50 to 60 through 2026 while investing to scale supply given the current pipeline. Meanwhile, Illumina continues to expand its oncology menu as customers scale sequencing in clinical decision-making and in new trials that require larger information sets.
ILMN’s balance sheet also remains in solid shape. The company exited the first quarter of 2026 with cash and cash equivalents of $1.09 billion compared with $1.42 billion at the end of fourth-quarter 2025. Current debt was $499 million, unchanged sequentially, while long-term debt remained $1.49 billion.
Key Risks for IlluminaThe company continues to operate in a higher-cost environment shaped by tariffs and supply-chain inflation, which can affect both demand and margins. It also faces constrained demand in Greater China amid ongoing regulatory and geopolitical uncertainty, keeping the region out of step with the rest of the business.
A Look at ILMN’s EstimatesThe Zacks Consensus Estimate projects Illumina's 2026 and 2027 earnings per share (EPS) at $5.19 and $5.86, reflecting year-over-year growth of 7.2% and 12.9%, respectively. The consensus estimate for 2026 EPS has moved 0.4% higher over the past 30 days.
Revenues are expected to increase 5.1% to $4.56 billion in 2026, followed by another 6.2% increase to $4.85 billion in 2027.
Key PicksSome other top-ranked stocks in the broader medical space are IDEXX Laboratories (IDXX - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .
IDEXX Laboratories has an earnings yield of 2.6% compared to the industry’s negative 3% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. IDXX shares have rallied 2.7% against the industry’s 8.2% decline over the past year.
IDXX carries a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology, carrying a Zacks Rank #2, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 5.5% growth. Shares of the company have dipped 14.5% against the industry’s 10.5% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.
Integra LifeSciences, carrying a Zacks Rank #2, has an earnings yield of 13.7% against the industry’s negative 3% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 31.4% against the industry’s 8.2% decline over the past year.
Illumina zvýšila celoroční výhled na rok 2026 po lepších než očekávaných tržbách, maržích, non-GAAP EPS a umístěních NovaSeq X. Čínský trh ale dál brzdí růst.
Key Takeaways ILMN is focused on core sequencing, multiomics, and software after the GRAIL spin-off.ILMN raised 2026 guidance as Q1 revenues, margins, EPS and NovaSeq X placements topped expectations.ILMN faces China weakness, tariffs and higher input costs that may pressure growth and margins. Illumina Inc. (ILMN - Free Report) is well-poised to grow in the coming quarters owing to its strategic execution against growing the core sequencing business, expanding multiomics and developing services, data and software capabilities. Ongoing momentum in clinical end markets is boosting sequencing consumables demand. Higher-than-expected NovaSeq X placements and continued transition to the platform further strengthen the outlook. Yet, China remains a drag on Illumina’s growth, while input-cost volatility can limit incremental margin upside over the next several quarters.
Over the past year, this Zacks Rank #3 (Hold) stock has surged 87%, well ahead of the industry’s 23.8% growth and the S&P 500 composite’s rise of 22.8%.
The renowned biotechnology company has a market capitalization of $27.82 billion. ILMN’s earnings yield of 2.8% is well ahead of the industry’s -14.9% yield. In the trailing four quarters, it surpassed estimates on all occasions, delivering an average surprise of 12.2%.
Let’s delve deeper.
Tailwinds Behind ILMN StockSharpened Focus on Core Genomics: Following the spin-off of GRAIL in June 2024, Illumina has continued to center its strategy on the core sequencing franchise while scaling into adjacent multiomics and data offerings. The company remains focused on returning to durable growth and higher profitability, aiming for high-single-digit revenue growth by 2027, along with double-digits to teens annual earnings per share (EPS) growth, anchored by its roadmap of growing the core sequencing business, expanding multiomics and building services, data and software capabilities.
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First-quarter 2026 results reinforced that direction, with revenues, margins and non-GAAP EPS exceeding guidance. Management also raised full-year 2026 guidance, now expecting revenues in the range of $4.52-$4.62 billion and non-GAAP diluted EPS in the range of $5.15-$5.30, alongside a modest step-up in the non-GAAP operating margin outlook between 23.4% and 23.6%.
NovaSeq X Placements and Transition Progress: Illumina’s core sequencing business remains anchored by NovaSeq X. First-quarter 2026 placements exceeded 80 units, around 20 more than the prior-year quarter and above the company’s targeted quarterly range. Demand remains strong for the platform, especially with clinical. Management noted supply constraints in meeting first-quarter placement demand while exiting the quarter with a backlog that supported a higher full-year instrument outlook.
Transition progress also continued, with approximately 82% of volumes and 55% of revenues transitioned to NovaSeq X in the first quarter, and roughly 90% of research and applied volume now on the platform. Management continues to plan for average quarterly NovaSeq X placements of 50 to 60 through 2026 while investing to scale supply given the current pipeline.
Clinical Demand Remains the Key Driver: Illumina continues to benefit from the broader adoption of NGS-based testing, with clinical markets now representing the majority of sequencing consumables revenues in first-quarter 2026. Management cited continued adoption of sequencing-based diagnostics and growing use of sequencing-intensive tests, including comprehensive genomic profiling and whole genome sequencing, as drivers of higher sequencing intensity.
Clinical sequencing consumables demand grew 20%, excluding China, for the second consecutive quarter, and management continues to expect most clinical volumes to transition to NovaSeq X by the end of 2026. Over time, the mix shift toward higher-throughput clinical workflows should remain supportive for consumables growth even as research demand stays uneven.
What Ails ILMN?Setbacks in China Market: Illumina continues to face constrained demand in Greater China amid ongoing regulatory and geopolitical uncertainty, keeping the region out of step with the rest of the business. In first-quarter 2026, Greater China revenues were $52 million, down 27.8% year over year. With Illumina still operating under uncertainty tied to its status with Chinese authorities and the resulting friction on commercial activity, visibility on a sustained recovery in China remains limited and can weigh on overall growth and operating leverage.
Macroeconomic Pressures Remain a Concern: Illumina continues to operate in a higher-cost environment shaped by tariffs and supply-chain inflation, which can affect both demand and margins. In the first quarter of 2026, tariffs were a partial offset to underlying cost efficiencies and revenue leverage.
Second-quarter guidance calls for an operating margin of around 22%, reflecting a higher instrument mix, near-term inflationary impacts tied to freight and higher electronic component costs, and incremental costs from a full quarter of SomaLogic. Management expects mitigation actions to offset these cost items over the balance of the year, but ongoing volatility in trade policy and input costs can still create uneven quarterly performance and limit visibility for customers facing tighter budgets.
ILMN Stock Estimate TrendThe Zacks Consensus Estimate for ILMN’s 2026 EPS has increased 0.4% to $5.19 in the past 30 days.
The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $4.56 billion. This suggests a 5.1% rise from the year-ago reported number.
Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .
Globus Medical has an earnings yield of 6.2% compared to the industry’s negative 3% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 35.4% against the industry’s 10.6% decline over the past year.
GMED carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 5.5% growth. Shares of the company have dipped 6.3% against the industry’s 9.6% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.
Integra LifeSciences, carrying a Zacks Rank #2, has an earnings yield of 13.7% against the industry’s negative 3% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 33.8% against the industry’s 10.5% decline over the past year.
